Nigeria in trouble as China prepares to ban petrol, diesel vehicles

That being said, the electric and hybrid auto energy is clearly the future of automobiles, and China is positioning itself far ahead of the US.

Song Qiuling, a Senior Official from the Ministry of Finance, during Saturday's event warned that if government subsidies that are intended for scaling-up the electric vehicle industry are held for long, they could be abused leading to a "mindless expansion" and excess capacity in the sector.

With the emerging trend of the world economy, and the effect of fossil fuels on the aggravating state of climate change, China is on way to completely ban the sale of fossil fuel-powered cars in the country. Norway wants only green energy vehicles on its roads by 2025.

BYD on Monday won the bidding of 822 electric bus procurement plan by a Shenzhen-based bus operator, shortly after the announcement earlier this month that it will provide above 400 e-vehicles to another local public transportation company.

Keeping EVs cheap to the consumer is very much part of the plan to get China to an all-electrified fleet.

About 2.5 million workers are in the solar power industry in China, according to CNN, while the us has only 260,000 solar power jobs, according to the International Renewable Energy Agency. Volvo will introduce its first 100 per cent electric auto in China in 2019, while Ford will market its first hybrid vehicle in early 2018.

The United Kingdom has pledged a ban on new diesel and petrol vehicle sales by 2040.

Chinese-owned auto maker Volvo said in July that all its new vehicle models would have an electric motor from 2019 and Geely, Volvo's Chinese owner, aims to sell one million electric cars by 2025. But consideration of a ban is yet more evidence of China's honest desire to transition away from fossil fuels. Prime Minister Narendra Modi's think tank Niti Aayog aims to get electric vehicles to 44% of the fleet by 2030, and is aggressively favouring them with tax rates 31 percentage points below those for hybrids and internal combustion-engine cars under its newly harmonised goods and services tax. While China invests heavily in a cleaner world that runs on lithium, U.S. President Donald Trump continues to cosplay as a coal miner.

It has also ordered state-owned power companies to install more electric vehicle charging stations.